Bad News For Clear Channel 

09-20-03 Keavin
If Sen. John McCain, R-Ariz has his way, it could spell trouble to radio giant Clear Channel Communications.  The Federal Communications Commission recently approved new rules that will impose tighter restrictions on radio ownership. The new restrictions grew out of concern that some big media companies had taken advantage of loosened controls in the Telecommunications Act of 1996, which deregulated the radio industry. 

McCain wants to expand the new FCC rules to work retroactively and apply to stations already owned by Clear Channel. 

McCain and others feel that Clear Channel has grown too large since the Telecommunications Act of 1996, and that the companies ownership of several stations in the same markets ultimately hurt consumers. 

In 1995 Clear Channel owned just 43 radio stations. The company now owns more that 1,200 stations in the United States.  

Clear Channel is crying foul, they fear that the McCain proposed restrictions would penalize the company for playing by the rules, since they acquired the new stations lawfully under the 1996 Telcom Act. 

The Senate is currently battling over the new proposed FCC regulations, saying that they will actually allow large corporations (mainly television owners) to amass large holdings in the same markets.  

McCain will apparently seek a legislation remedy to his concerns, but the details about how he plans to go forward are not known at this time. 

more on Clear Channel .